31,346 Shares in Fastenal Company $FAST Purchased by Groupama Asset Managment

Groupama Asset Managment purchased a new stake in Fastenal Company (NASDAQ:FAST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,346 shares of the company’s stock, valued at approximately $1,537,000.

Several other hedge funds have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Fastenal in the second quarter valued at approximately $27,000. SOA Wealth Advisors LLC. lifted its holdings in Fastenal by 71.6% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 611 shares of the company’s stock worth $30,000 after purchasing an additional 255 shares during the last quarter. REAP Financial Group LLC acquired a new stake in Fastenal during the 3rd quarter worth approximately $30,000. First Horizon Corp bought a new stake in Fastenal in the 3rd quarter valued at $33,000. Finally, Financial Perspectives Inc boosted its stake in Fastenal by 414.0% in the 3rd quarter. Financial Perspectives Inc now owns 699 shares of the company’s stock valued at $34,000 after purchasing an additional 563 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Fastenal Stock Performance

Fastenal stock opened at $44.49 on Friday. The company has a quick ratio of 2.41, a current ratio of 4.85 and a debt-to-equity ratio of 0.03. The stock has a market cap of $51.09 billion, a PE ratio of 40.45, a P/E/G ratio of 2.87 and a beta of 0.88. Fastenal Company has a 12-month low of $35.31 and a 12-month high of $50.63. The business’s 50-day moving average price is $45.23 and its two-hundred day moving average price is $44.05.

Fastenal (NASDAQ:FAST) last posted its earnings results on Tuesday, January 20th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fastenal had a net margin of 15.35% and a return on equity of 32.83%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, analysts expect that Fastenal Company will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Thursday, January 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, January 29th. This is a boost from Fastenal’s previous quarterly dividend of $0.22. Fastenal’s payout ratio is currently 87.27%.

Insider Activity

In other news, Director Reyne K. Wisecup sold 36,920 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $47.34, for a total value of $1,747,792.80. Following the completion of the transaction, the director owned 40,000 shares of the company’s stock, valued at $1,893,600. This represents a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott Satterlee sold 15,964 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $44.19, for a total transaction of $705,449.16. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $2,209,500. This trade represents a 24.20% decrease in their position. The SEC filing for this sale provides additional information. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Sanford C. Bernstein reiterated an “underperform” rating on shares of Fastenal in a research report on Wednesday, January 21st. Benchmark reissued a “buy” rating on shares of Fastenal in a research report on Thursday, March 5th. Jefferies Financial Group set a $52.00 price target on shares of Fastenal and gave the company a “buy” rating in a research note on Monday, December 15th. UBS Group restated a “neutral” rating and issued a $46.00 price target on shares of Fastenal in a research note on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fastenal in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.83.

Fastenal Profile

Fastenal (NASDAQ: FAST) is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.